Clear, efficient processes are the backbone of a strong year. But there's one place most companies don't look: the digital front door — how you onboard customers and suppliers. That's where a quick win is hiding, and it barely takes any investment to capture it.
Why account details matter more than they seem to
Sweating over small details usually isn't worth it. But when it comes to customer data, the details are exactly what matters. Two things go wrong more often than you'd think:
Incorrect payments. A single typo in a customer's bank account details during onboarding can mean a subscription gets debited from the wrong account. Fixing it takes manual work, and the more customers you have, the more these "small" errors cost you.
Bank account fraud. Some people provide the wrong account number deliberately. This kind of fraud often uses an account tied to a large organization, so it takes time to catch. By the time it's caught, tracking down who's responsible is hard — and by then, the amount can add up fast.
These errors look like small potatoes. In practice, they add up to real money.
A simple fix, and it costs almost nothing
Getting account details wrong, whether by accident or on purpose, is a lot more common than most businesses realize. The Netherlands is actually ahead of the curve here: Dutch banks already run an IBAN-Name Check on manual payments, provided by SurePay, so most people are used to their name and account being verified automatically. But outside of banking, most companies still haven't built this into their own onboarding and payment flows — even though the same check is available to them through a simple API.
So if you're planning where to find savings next year: start by finding out what incorrect data and account fraud are actually costing you. Then fix it — build the IBAN-Name Check into your processes.
It's not just fraud prevention — it's a better customer experience too
Fraud prevention and cost savings are the obvious wins. But an IBAN-Name Check does more than that.
It also makes onboarding smoother. Right now, verifying a customer's details often means asking for a bank statement or making a small test transfer to confirm an account. An IBAN-Name Check replaces that: the name-to-account match happens instantly, inside your existing onboarding flow, with almost no friction for the customer.
SurePay also runs a few extra checks alongside the core verification:
- Is this account registered under more than one name?
- Is it a personal account or a business account?
- Does the account still exist in the customer's records?
- Where needed, does it match the Chamber of Commerce registration?
Easy to integrate, fast to see results
Most process improvements take more time and money than they're worth. The IBAN-Name Check is the exception.
It integrates with virtually any existing system, with no lengthy analysis, no drawn-out process review, and no expensive consultants required.
The results are immediate and measurable: up to 80% less fraudulent onboarding, and 50% fewer erroneous direct debits — plus real time saved on the back end.
If you're looking for a concrete way to cut costs this year, start with your payment processes. Contact our team if you'd like to talk through how the IBAN-Name Check could work for you.
